Real-time Payments

Real-time Payments

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Real-time payments are here, make and receive payments quicker and easier than ever.

To ensure our customers get the most out of their banking experience with us, we have implemented the New Payments Platform (NPP), an industry initiative in Australia to provide faster and easier payments across participating institutions. From today all incoming and outgoing payments (excluding scheduled transfers, BPAY and international payments) whether you pay using a BSB and account number or a PayID identifier between Qudos Bank and other participating institutions will be sent through this real-time platform.

 

 

What are real-time payments?

What is Osko?

Osko by BPAY is the first innovative payments service built on the New Payments Platform to allow processing real-time payments in under a minute.

What is a PayID?

PayID is a form of simpler identification for your account. An identifier like a mobile number or an email address that you can securely link to your bank account. Then when you want somebody to transfer funds into your account, you can give them your PayID instead of your BSB and account number. It’s important to know that PayID can only be used to transfer money into an account and can’t be used to take money from an account.

 

How to register for PayID

Registering your PayID using the Qudos Bank App

1. Log into the Qudos Bank app and select the menu button

2. Select "Manage PayIDs" in the menu

3. Select "Create PayID"

4. Follow the prompts

Registering your PayID online

1. Log into online banking and select accounts

2. Select "Manage PayIDs"

3. You will then be asked to request a code, select validate one you have typed in your code

4. Select "Create PayID" and follow the prompts.

 

How to make a payment using PayID

1. Log into the Qudos Bank app or Online Banking

2. In the menu select Pay > Pay someone

3. Select New payee > PayID

4. Follow the prompts to make your payment.

For more information please visit our FAQ's.

 

Need some help?

  What is the New Payments Platform?

The New Payments Platform is an industry initiative in Australia to provide faster and easier payments across participating institutions.

  What are Real-time payments?

Real-time payments are transactions processed almost immediately and available 24/7 between participating institutions. You no longer have to wait up to 3 business days for payments to reach your account, real-time payments provide convenience and speed.

  What is PayID?

A PayID is something easy to remember, like a phone number or email address, that you can securely link to your bank account. Then when you want somebody to transfer funds into your account, you can give them your PayID instead of your BSB and account number.

  What is Osko by BPAY?

Osko by BPAY is the first consumer service to be built on the New Payments Platform to use the PayID functionality. Osko sends payments fast between financial institutions, 24/7 – even on weekends! You can make a faster, 24/7 payment with Osko all within your existing mobile or internet banking – too easy! In most cases it will arrive in under a minute. Osko uses PayID, so you can be paid or make payments using someone’s registered mobile number or email address - simple! You can also use BSB and account details.

  What are the features of the New Payments Platform?
  • Speed – the ability to make payments in real time, processing payments within 60 seconds.
  • 24/7 availability – Available to process payments 24/7, 365 days a year.
  • Data Enriched – option to provide more details with the payment
  • Simple Addressing – Easily identify accounts using PayID. Providing an alternative and easier way to address payments by using just your mobile number or email address.
  Can I choose if I want my payments to go through the New Payments Platform?

No, all payments will be sent through the New Payments Platform if the participating institution is registered for NPP. If the participating institution is not registered with NPP, the payment will be sent traditionally through direct entry and could take up to 3 working days to appear. Scheduled payments and BPAY payments will not be sent through NPP.

  How do I register for PayID?

Registering your PayID using the Qudos Bank App:

  1. Log into the Qudos Bank app and select the menu button
  2. Select "Manage PayIDs" in the menu
  3. Select "Create PayID"
  4. Follow the prompts.

Registering your PayID online:

  1. Log into online banking and select accounts in the menu
  2. Select "Manage PayIDs"
  3. You will then be asked to request a code, select validate one you have typed in your code
  4. Select "Create PayID" and follow the prompts.

Please note, you will receive a validation code by SMS if your PayID is a mobile number or by email if your PayID is an email address.

  Will my PayID be automatically created?

No, you will need to register your PayID using the Qudos Bank app or online banking.

  Are there fees charged for registering a PayID?

The new payment platform is a free service, you will not be charged for registering or using a PayID.

  Can I have multiple PayIDs linked to the same account number?

Yes, multiple PayID types can be linked to the same account. For example, you could link an email PayID and a phone number PayID to the same account.

  Which Qudos Bank accounts have access to PayID?

PayID is available to all Qudos Bank active savings accounts (except term deposits) and loan accounts that are linked to an online banking profile.

  Which Qudos Bank accounts process payments in Real-time?

All eligible Qudos Bank savings accounts can pay and receive payments, excluding BPAY and scheduled payments, in real-time. All loan accounts can receive payments in real-time.

  Where can I use my PayID?

You can give your PayID to anyone that needs to pay you, if their financial institution supports payments using PayID. If their financial institution doesn’t support PayID, you can still use your BSB and account number.

  How do I pay someone using PayID?

Ensure you've downloaded the latest version of the Qudos Bank app

Launch the Qudos Bank app

  1. Select Pay > Pay someone
  2. Select New payee > PayID
  3. Follow the prompts to make your payment.

You can also make a payment within Online Banking

Log into your Online Banking account

  1. Select transfer/pay > pay someone
  2. Select new payee
  3. Add the PayID and follow the prompts to make your payment.
  Does It cost me anything to use PayID?

The new payment platform is a free service, you will not be charged for registering or using a PayID.

  Is there a transaction limit for PayID?

Your existing Online Banking transaction limits apply, please refer to our savings account terms & conditions.

  Can I register PayID to international mobile numbers?

PayID is only available for Australian mobile numbers that are associated with Australian bank accounts.

  Can I register PayID to international email addresses?

PayID is only available for email addresses that are associated with Australian bank accounts.

  I made a mistake inputting a PayID and paid the wrong person, what do I do?

Please contact our customer service team on 1300 747 747.

  A payment was made using PayID, but it hasn’t arrived in my account?

Payments made using PayID should arrive in your account within 60 seconds. Please ask the payer to contact their financial institution.

  I processed a payment through PayID, but it hasn’t gone through?

Your payment might be on hold, please contact our customer service team on 1300 747 747.

  What if the receiving bank doesn’t use the New Payments Platform?

Your payment can still be processed via the current payment platform using BSB and Account No. Transfer of funds could take up to 3 business days depending on the institution.

  Can Real-time payments be stopped?

PayID payments can only be made from online and mobile banking of participating banks, credit unions and building societies. This means the same very high level of security that protects your existing bank accounts payments will also protect your PayID payments.

  Can someone else set up a PayID using my information?

Registering your PayID requires several identification and verification steps to prove you are the rightful owner of the information you wish to use for the PayID.

  Can another person link my PayID to their account?

PayID can be linked to only one account. Moving your PayID requires several identification and verification steps to prove you are the rightful owner of the information you wish to use for the PayID.

  My PayID is being used by another person, what should I do?

Please select the "Dispute PayID" option that appears when you try to register a PayID already in use, this requires several identification and verification steps to prove you are the rightful owner of the information you wish to use for the PayID.

  How safe is using real-time payments?

The NPP has been built with security and fraud front of mind. Payments made via the Platform are currently made by logging in to your usual secure internet or mobile banking and authorising a payment. For extra peace of mind, if you are sending a payment using a PayID, you will also be able to check the name of the person you want to pay before confirming the payment. As always, you should be on the look-out for scammers who could try and trick you into making a payment.

  What other safety precautions are Qudos Bank implementing?

Qudos Bank partner with ORION, who have a dedicated team to monitor and identify fraudulent transactions 24/7. You may receive a call from ORION if the monitoring service notices suspicious payments/PayID.

  How do I cancel my PayID?

Using the Qudos Bank App:

  • Log into the Qudos Bank app and select "Manage PayIDs"
  • Select the PayID you wish to cancel
  • Select PayID settings
  • And click close PayID.

Using Online Banking:

  • Navigate to Accounts and select "Manage PayIDs"
  • Select the PayID that needs to be cancelled
  • Select “More Actions” for that PayID
  • Select “Close PayID”
  • Follow the prompts to complete closure of PayID.
  What happens if I close the account my PayID is linked to?

You can transfer your PayID to another account, if the account is closed before transferring the PayID please contact our customer service team on 1300 747 747.

  How do I transfer a PayID?

Using the Qudos Bank App:

  • Log into the Qudos Bank app and select "Manage PayIDs"
  • Select the PayID you wish to transfer
  • Select PayID settings
  • And click Transfer PayID.

Using Online Banking:

  • Navigate to Accounts then select "Manage PayIDs"
  • Select the PayID that needs to be transferred
  • Select “More Actions” for that PayID
  • Select “Transfer PayID”
  • Follow the prompts to complete transfer request.
  How do I lock a PayID?

Locking a PayID means you will no longer accept payments through your PayID.

To lock a PayID on the Qudos Bank App:

  • Log into the Qudos Bank app and select "Manage PayIDs"
  • Select the PayID you wish to lock
  • Select PayID settings
  • And select lock PayID.

To lock a PayID using Online Banking:

  • Navigate to Accounts and select "Manage PayIDs"
  • Select the unlocked PayID that needs to be locked
  • Select “More Actions” for that PayID
  • Select “Lock PayID”
  • Follow the prompts to complete lock of PayID.
  How do I unlock a PayID?

To unlock a PayID on the Qudos Bank App:

  • Log into the Qudos Bank app and select "Manage PayIDs"
  • Select the PayID you wish to unlock
  • Select PayID settings
  • And select unlock PayID.

To unlock a PayID using Online Banking:

  • Navigate to Accounts and select "Manage PayIDs"
  • Select the locked PayID that needs to be unlocked
  • Select “More Actions” for that PayID
  • Select “Unlock PayID”
  • Follow the prompts to complete unlocking of PayID.
  Does PayID replace BSBs & account numbers?

No, PayID is an alternative way to make and receive real-time payments to an account, so you don’t have to remember your BSB and account number, but you can still use your BSB and account number if you prefer.